Business News | APSEZ Signs MoU with France's Port of Marseille Fos to Boost India-Europe Trade Via IMEC
Get latest articles and stories on Business at LatestLY. Adani Ports and Special Economic Zone Ltd (APSEZ) has signed a Memorandum of Understanding (MoU) with the Port of Marseille Fos, France, to deepen cooperation on trade facilitation, port innovation, and energy transition, the company said in an official statement on Wednesday.
Ahmedabad (Gujarat) [India], February 18 (ANI): Adani Ports and Special Economic Zone Ltd (APSEZ) has signed a Memorandum of Understanding (MoU) with the Port of Marseille Fos, France, to deepen cooperation on trade facilitation, port innovation, and energy transition, the company said in an official statement on Wednesday.
APSEZ also stated that it partnered with the Port of Marseille Fos, France's leading port and the Mediterranean's premier gateway, to strengthen connectivity between India and Europe under the India-Middle East-Europe Economic Corridor (IMEC).
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In an official statement, it stated "This partnership proposes the creation of an IMEC Ports Club to strengthen coordination among key ports along the India-Middle East-Europe Economic Corridor (IMEC) route, reinforcing connectivity between India and the European Union".
The company noted that this completes the IMEC pathway for India-EU trade, which has been boosted by the Free Trade Agreement between India and the EU, termed as "the mother of all deals" by Prime Minister Narendra Modi.
The MoU was signed during the visit of French President Emmanuel Macron, highlighting the expanding India-France strategic partnership and aligning it with the broader IMEC and India-EU trade vision.
Launched at the 2023 G20 Summit in New Delhi, the IMEC is a 6,000-km multimodal connectivity initiative linking India and Europe through integrated maritime routes, rail networks, digital systems, and clean-energy pathways.
On the eastern gateway of IMEC, APSEZ's ports at Mundra and Hazira serve as a multimodal logistics hub connecting South Asia to West Asia.
With this agreement, Marseille Fos strengthens the western European gateway of the corridor, adding approximately 70 million tonnes of capacity and extending the corridor's reach deeper into Europe. Marseille Fos is also recognised as one of Europe's largest integrated multimodal port ecosystems.
Adani Port also stated that this partnership will focus on promoting the IMEC route as a sustainable, secure, and competitive alternative for Eurasian trade flows through joint campaigns, participation in international trade fairs and roadshows, and targeted business-to-business engagements.
It will also include technical exchange and capacity building in port digitalisation, smart-port platforms, data interoperability, cybersecurity, alternative fuels, shore power supply, and low-carbon bunkering.
Both sides will also work on developing the Mundra-Marseille Fos Green Maritime Corridor and co-founding the IMEC Ports Club to institutionalise dialogue among corridor ports and support policy discussions and investment frameworks related to IMEC infrastructure.
Ashwani Gupta, Whole-time Director & CEO, APSEZ, said, "India has already taken a leadership role in advancing this corridor, and with the conclusion of the India-EU Free Trade Agreement, trade between the participating countries is expected to grow manifold."
He further added, "At APSEZ, our ports in Hazira and Mundra on India's western coast have already established a seamless pathway across the first and middle legs of the corridor. With this MoU with the Port of Marseille Fos in France, we have now successfully connected the final leg to Europe. This partnership will significantly accelerate the exchange of information and materials among all participating nations, further strengthening economic cooperation and supply-chain resilience."
Herve Martel, CEO of the Port of Marseille Fos, added: "We are pleased to strengthen our partnership with APSEZ at a moment when the IMEC corridor is entering a decisive phase. India and Marseille stand at the two extremities of this future trade backbone, giving both ports a major responsibility in structuring and energizing this new route. Together, we intend to mobilize and federate the ports involved, and to act as strong advocates of a more efficient, resilient and sustainable connection between our regions." (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)